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Tracing and management of crypto assets: ARMA and CARA of Moldova work together

15-11-2024

Cryptoassets continue to strengthen their position in the world, which is being used by criminals, among others. This poses new challenges for the authorities that have to manage seized crypto assets. The Asset Recovery and Management Agency (ARMA) held an online meeting with representatives of the Agency for the Recovery of Criminal Assets (CARA - Republic of Moldova) as part of the signed interagency agreement. The topic of the meeting was tracing and management of crypto assets.

During the meeting, the participants discussed issues of legislative regulation of the cryptoassets sphere, focusing on the legal aspects of cryptoexchanges. The main topics were regulations governing interaction with cryptocurrency platforms, as well as rules for interaction between crypto exchanges and relevant government agencies to ensure transparency of operations and compliance with international standards.

“Effective management of crypto assets is a key challenge faced by our agencies. Crypto assets continue to strengthen their position in the international financial markets.  Cooperation with CARA Moldova will allow us to share best practices and develop reliable procedures to ensure security and transparency in this area,” said Vitalii Chubaievskyi, Director of the Department for Finding, Tracing and Investigation of Financial and Other Assets.

Representatives of the Moldovan CARA thanked ARMA for its efficiency and professional approach in processing requests. The parties agreed to further cooperate for the effective management and tracing of the proceeds of crime.